As part of its new R&D consulting practice, IBM will analyze companies' R&D operations, create streamlined business processes designed to shorten product development lifecycles, and create R&D roadmaps.

In an IBM study, which polled 750 CEOs, respondents ranked R&D as their eighth source for new ideas. According to IBM officials many companies are struggling to align their R&D investments with business objectives and drive innovation and growth.

The new management consulting practice falls under IBM's Global Business Services division. Staff from IBM's internal research division will collaborate with business consultants for each engagement and share their experience operating IBM's own R&D organization, IBM officials said.

Customers can choose from among a range of service offerings, including R&D transformation and optimization services. For those engagements, IBM consultants assess a company's R&D business model to help executives identify which areas R&D should focus on to improve profitability and strategic differentiation.

IBM officials point out that R&D is now considered as yet another business cost and is no longer immune to the cost pressures that other line items are. Officials said that its important that R&D be efficient.

IBM's ideation services are designed to help clients put processes in place to feed a continuous flow of new ideas, while collaboration services are aimed at determining where it makes sense for companies to seek R&D input from external partners. IBM also offers services geared toward R&D strategy, product innovation management, and portfolio management.

Typical R&D consulting engagements will likely last from two to six months, officials said.